What Is Walton chain (WTC)?

What Is Walton chain (WTC)? Complete Guide Review About Walton chain.

What Is Walton chain (WTC)?

On November 30, 2016, the 5th anniversary of the death of RFID technology inventor Charlie Walton (Charlie Walton), to commemorate this great scientist, the project was founded on that day and officially named Waltonchain. Walton chain is an underlying commercial ecological public chain. As the leader of blockchain IoT, chain uniquely combines blockchain technology with RFID technology. On this chain, merchants can establish various sub-chains according to their own needs, and monitor the entire process of production, logistics, warehousing, and retail circulation of all commodities. 

Walton chain As a typical business ecological chain, the main feature of chain is to ensure that all data (including property ownership data, commodity circulation data, etc.) are authentic and credible. Through the self-developed card reader chip and label chip, all data of offline physical goods in the circulation process can be automatically and quickly uploaded to the chain, avoiding human interference and minimizing the possibility of data tampering, thus creating a fair and transparent. , traceable, authentic and credible next-generation business ecosystem.

Walton chain Storage Key Points

Coin BasicInformation
Coin NameWalton chain
Short NameWTC
Circulating Supply79,815,219.28 WTC
Total Supply84,790,431
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Background

Walton chain PoS was debuted in 2011 by Quantum Mechanic on Bitcointalk Forum. The system creatively replaces computing power weight by token weight in Block Producer elections. Token holders can claim its run for BPs to the system by staking their tokens, while the system selects BPs through random algorithm. Those selected will be responsible for packing, verifying of transactions and prolonging the chain. As a late-comer to the game, PoS drew on the experience of PoW with regards to consensus, elections, packing, validation and so forth.

Walton chain As technology advances, PoS is steering the development of blockchain world in performance, capacity and sustainability. 2019 and the following year will be seeing, with excitement, the landing of second-generation PoS 1 consensus as projects like Cardano, Tezos, Cosmos, and Polkadot will soon launch the main net, making them the touchstone of PoS consensus in the new era.

The public chain world

Walton chain model in PoS overturned computing power weight, integrating the right of possession with that of mining. So that the token holders can participate in the system consensus just through staking. During the whole process, the token holders only have to run servers of certain standards or delegate to professional validators (After 2015, all mainstream PoS projects started integrating delegating mechanism to enhance the staking ratio of tokens, thus making the system safer).

Moreover, random election solves the problem of squandering computing power brought about by mining competitions. At the same time, a new blockchain relationship is created—holders are miners, blowing a new wind to the public chain world. Incentives, no matter when it comes to PoW or PoS, are integrated in order to encourage engagement in nodes operation. Right before the launch of a main net adopting PoS consensus, the system will strengthen the incentives to guarantee that enough tokens will be staked.

Therefore, more coins that are initially distributed will be locked to step up systemic safety. As Arthur, the founder of Tezos, wrote in that project’s whitepaper: the preliminary incentives must be high enough. This is of paramount importance for a safe launch of main net. Walton chain must bear certain time and opportunity costs (2). If the incentives fall short, the mainnet will bear grave safety threats. Another example, Cosmos wrote floating annual rate that is as high as 7%~20% to its codes to motivate staking while their mainnet was launching.

Token Stake security and token liquidity

Lock period is an important feature that sets PoS apart from PoW consensus. In Stake model, the system has stability requirements for tokens staked, which is used to prevent long-range attacks Nothing at stake. There is also a problem of computational fragmentation. Walton chain The tokens that have been staked are locked by the system for a certain period(3). Although the token holders can initiate the unlock at any time, but the tokens will still be untradable during the unlocking period. That is to say, holders still can’t dodge the risk of value fluctuations of the token at that phase.

Walton chain This is underlied by the contradiction between Token Stake security and token liquidity.The paradox, to a large extent, causes problems in both ways. Many people are too afraid to stake, and the system will be in jeopardy as a result. This is a slippery slope, for a small nexus is seizes most reward fruits while the system still remains highly risky. For some PoS consensus projects that have already launched, the Stake rate is about 40%. As for those star projects, the number is generally around 50%~60%, up to 80%, less-known ones only about 20%. In theory, the most satisfying Stake rate, from a safety aspect, should be 100%, but this is often unrealistic.

Walton chain In addition, the 100% Stake rate means that the liquidity of the token is 0. For many projects with a vision of creating a blockchain OS (operating system), the liquidity of the token plays a significant role in underpinning the operation and value of the system. So, the impact of zero liquidity is almost entirely negative. At present, PoS world has not reached an agreement on a reasonable Stake rate. Or, maybe we should put it this way—it is impossible to reach an agreement because of testing a distributed network with a simulated environment is hardly possible.